During Oct-25, Indian steel prices fell 3% MoM to Rs47,000/tonne, while Chinese steel prices declined by 2% MoM to $460/tonne as rising domestic inventories, indicating supply outpacing demand. Coking coal prices increased 6% MoM to $174/tonne, supported by stronger Chinese buying interest. In Sep-25, Indian steel production declined by 3.5% MoM to 13.6 mn tonnes, while estimated Chinese steel output fell by 5% MoM to 74 mn tonnes, in-line with Chinese anti-involution policy and mill production cut due to negative margins. Global steel production also contracted 2% MoM to 142 mn tonnes. Furthermore, Chinese steel exports increased by 10% MoM and...